Stocks in Focus on March 15, 2023: KBANK and SPA

Kaohoon Online has selected stocks with a high-growth potential for investors to consider on March 15, 2023.


Maybank Securities (Thailand) (MST) has given a “BUY” recommendation on Kasikornbank Public Company Limited (SET: KBANK) with at target price at ฿160.00/share.

MST stated that loans are expected to grow 5-7% this year, led by corporate loans and unsecured loans, with NIM expected at 3.3-3.45%. Meanwhile, the Valuation is attractive as it currently trades at only 7x P/E and 0.56x P/BV, which is considered the level that is worth accumulating.


KGI Securities (KGI) has upgraded rating of Siam Wellness Group Public Company Limited (SET: SPA) from “Neutral” to “Outperform” with a target price at ฿12.50/share.

KGI re-iterated its positive view on SPA’s business outlook in 2023F. So far, the proportion of revenue from international tourists has seen good progress rising to nearly 60% QTD (up from 40% in 4Q22) which should confirm positive short-term earnings momentum in 1Q23F. The company also plans to launch cannabis-infused Lifestyle & Spa products in 1Q23 which should support revenue visibility in the longer-term. With the share price decreasing 15% in three months amid a promising fundamental outlook.